Saturday, July 17, 2010

Security Analysis

An investment promises safety of principal and a satisfactory return

Intrinsic value is the worth of an enterprise to one who owns it "for keeps". Look for securities at a hefty discount to what they are worth.

Intrinsic value measures the economic potential - what an owner might get out of an asset
Book value - arithmetic compuation of what has been invested into it. Book value was almost worthless as a practical matter. Book value = Total assets - Total liabilities

Balance sheet and cashflow statement give us idea about reported earnings

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